Pony AI (NASDAQ:PONY) Rating Increased to Hold at Zacks Research

Pony AI (NASDAQ:PONY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently commented on PONY. HSBC began coverage on shares of Pony AI in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.60 target price on the stock. The Goldman Sachs Group set a $30.00 target price on shares of Pony AI in a research note on Thursday, April 16th. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Pony AI in a research note on Tuesday. BNP Paribas Exane initiated coverage on shares of Pony AI in a research note on Thursday, March 26th. They issued a “neutral” rating and a $12.50 target price on the stock. Finally, Barclays reduced their price objective on shares of Pony AI from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.95.

Pony AI Stock Up 4.7%

Shares of NASDAQ PONY opened at $9.34 on Monday. Pony AI has a 52 week low of $7.99 and a 52 week high of $24.92. The firm’s fifty day moving average is $9.87 and its 200 day moving average is $12.78. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -25.94 and a beta of 4.10.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP purchased a new position in Pony AI during the 1st quarter valued at $1,042,000. First Trust Advisors LP increased its position in Pony AI by 32.3% during the 1st quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock valued at $125,000 after purchasing an additional 3,236 shares during the period. TMT General Partner Ltd increased its position in Pony AI by 262.1% during the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after purchasing an additional 5,024,721 shares during the period. Hsbc Holdings PLC purchased a new position in Pony AI during the 1st quarter valued at $553,000. Finally, Money Concepts Capital Corp increased its position in Pony AI by 13.4% during the 1st quarter. Money Concepts Capital Corp now owns 106,065 shares of the company’s stock valued at $1,001,000 after purchasing an additional 12,519 shares during the period.

Pony AI Company Profile

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.